Regulation 40 Exercise of the delegationI1

For Article 49 (exercise of the delegation) substitute—

“Article 49

Regulations made by the Treasury

1

Any power to make regulations conferred on the Treasury by this Regulation is exercisable by statutory instrument.

2

Such regulations may:

(a)

contain incidental, supplemental, consequential and transitional provision; and

(b)

make different provision for different purposes.

3

A statutory instrument containing regulations made under this Regulation is subject to annulment in pursuance of a resolution of either House of Parliament.”.